CMS has advised a syndicate of banks led by ING Bank N.V.
International law firm CMS has advised a syndicate of banks led by ING Bank N.V. as mandated lead arranger in relation to the extension of the pre-export facility for Ukraine’s Kernel Group. The total amount of the credit facility is USD 300 million.
CMS advised on the overall structure of the facility and the addition of a Ukrainian entity as a co-borrower to enable simpler and quicker access to the facility proceeds by Kernel Group. The new structure of the facility also allows specific lenders to re-join the facility at a later stage thereby providing Kernel Group with flexibility to access additional funding in the future.
The CMS team was led by partner Elitsa Ivanova and counsel Kateryna Chechulina and included partner Ihor Olekhov, associate Khrystyna Korpan and lawyer Ivan Pshyk, as well as CMS lawyers in Zurich, Luxembourg, Amsterdam and Vienna.